Is Everything OK Now? (by Heavenskrow Investments)

All of the past few weeks just goes to show how strong the 200 Weekly SMA is… as well as weekly buy signals that I have mentioned for a while now…..

Anyways the Russell 2000 still can't get above its neckline….this should be LEADING instead of lagging….as it is a higher beta index.

Dow Industrials also at the neckline.

Weekly NASDAQ 100 at trend-line resistance from 2000 to 2011 high.

Barclay's failed at resistance on Friday from my last post that I mentioned..

And the Evil Index is still on its LAST BRINK OF SUPPORT in the momentum run from July 2011. Notice it signaled the bottom A DAY BEFORE(OCT 3rd…which I wasn't paying attention…sigh) due to parallel line from August 2010 low. If this breaks, I will join the bulls again. From February 2011 I was able to short the market due to the support being obeyed from 2007. Notice the parallel line on the August 2010 coincided with the October 3, 2011 bottom. A very evil chart.

So although I wasn't able to catch the exact low, I enjoyed most of the ride up from the 5th of October …unfortunately getting "raped" last Thursday as I shifted from bull to bear…But for now I remain short. Am I expecting a crash?? No(Although I hope Tim's 1937 analogy comes to play), at least a small pullback before I reanalyze the markets and see which side to join again.(keeping a close eye on the Evil Index of course)

You can never predict what will happen from the Fed meeting on Nov 2nd… As I am writing this…USD/JPY spiked and EUR/USD down 330 pips….NICE!!